Panasonic Corporation announced a plan today to expand its manufacturing footprint in India, with a new factory at Sri City Industrial Park in Andhra Pradesh. The new unit, which will be set up at an investment of Rs 294.6 crore by Panasonic Life Solutions India Pvt Ltd, the sales arm of Panasonic Life Solutions Company, […]
Day: December 26, 2019
Thermal power plants record 2% dip in electricity generation
Electricity generation by thermal power stations declined 2.15 per cent during April-October of this financial year compared with the corresponding period of FY19. Data collated by the Central Electricity Authority (CEA) showed that total generation from thermal power producers fell from 627.19 billion units (BU) to 613.55 BU. While electricity output from the thermal power […]
NTPC to invest Rs 50,000 crore to add 10GW solar energy capacity by 2022
State-owned power giant NTPC is planning to add 10GW of solar energy generation capacity by 2022, which entails an investment of around Rs 50,000 crore, to be funded mainly by green bonds, a source has said. At present, NTPC has installed renewable energy capacity of 920 MW, which includes mainly solar energy. It has formulated […]
NTPC, world’s top rated power stock, seen recovering from 10-month low
NTPC is the world’s most-loved power producer by equity analysts, and yet the shares of India’s largest utility are trading near a 10-month low. What gives? The New Delhi-based company is the top rated stock among the world’s largest utilities, with a recommendation consensus of 4.9 on a Bloomberg scale where 5 is a unanimous […]
Year in Review: Jet collapse to NBFC mess, biggest business news of 2019
Marked by both good and bad news, the year 2019 was an important one for India’s major business houses and corporate leaders. While the non-banking financial companies (NBFC) crisis started with IL&FS going belly up in September the previous year got worse, the aviation sector witnessed a major setback with cash-strapped Jet Airways suspending flights. […]
GoAir cancels flights due to delayed aircraft deliveries by Airbus
Budget carrier GoAir, which cancelled multiple flights earlier this week, on Thursday said the delay in aircraft deliveries by Airbus has added to its operational challenge. The Wadia group-owned airline cancelled as many as 40 flights this week on account of shortage of staff and inclement weather, among others issues. “GoAir has placed order of […]
Boeing messages disclose ‘very disturbing picture’ of 737 Max planes
A new batch of messages between Boeing Co. employees on the development of the 737 Max paints a “very disturbing picture” of concerns about the plane, according to an aide to a House committee. The documents were turned over to the Federal Aviation Administration on Monday, the agency said in a statement. The disclosure came […]
President of Emirates airline to retire in June after 17 years at helm
The president of Dubai-based airline Emirates will retire in June after 17 years at the helm of the Middle East’s biggest carrier, the company confirmed Wednesday. Tim Clark, who joined the airline in 1985 when it was first launched, will remain on as an adviser, the company told The Associated Press by email. His retirement […]
GoAir cancels flights for second day in a row amid pilot shortage
GoAir cancelled around twenty of its scheduled 330 flights on Tuesday because of non-availability of pilots caused by previous schedule disruptions and implementation of new regulations on pilot duty time. GoAir will face action for not providing rest to its pilots in line with rules, said a senior Directorate General of Civil Aviation (DGCA) official. […]
Tatas to control AirAsia India: Story behind
From now onwards, all the core operations, including commercial, finance, training and operations of AirAsia India will be directed independently by Tata Sons, not its Malaysian parent, AirAsia Berhad, holding 51 and 49 per cent shares respectively. This happened after both companies agreed to amend a controversial brand licensing agreement, which was signed in 2013, […]
France’s Safran considers $150-mn aircraft engine repair unit in India
France-based Safran Group is considering a $150-million investment in a new aircraft engine maintenance, repair and overhaul (MRO) unit in India to cater for its airline customers, according to the company. Safran and GE Aviation own a 50 per cent stake each in the US-based CFM International, which manufactures engines for the Airbus A320 and […]
AI pilots’ union urges govt to allow members to quit without serving notice
Flagging concerns over unpaid dues, an Air India pilots’ union has urged the government to allow their members to quit the debt-laden carrier without serving notice period. As the government works out the modalities for the sale of the national carrier, the Indian Commercial Pilots’ Association (ICPA) has also warned that they are in no […]